Shopify acquires Peel Insights to improve e-commerce analytics

Peel tools help online sellers analyze sales data and improve customer retention. Its Magic Dash product uses artificial intelligence to explain key insights from data. Peel works primarily with Shopify merchants and can integrate with apps within their tech stack, including Klaviyo and Recharge. Her clients include makeup brand Jones Road Beauty, cookware brand Caraway and T-shirt brand True Classic.

Founded in 2019, Peel raised a $5.3 million seed round in September 2021 led by Lerer Hippeau. Other investors include Eniac Ventures, Accomplice VC and Vinyl Capital.

The financial terms of the transaction were not disclosed. According to his LinkedIn, Peel CEO and co-founder Nicolas Grasset is now the chief product officer at Shopify, and the Peel app is still available in the Shopify App Store. A Shopify spokesperson did not specify whether the app will continue in its current version.

“With the Peel Insights team at Shopify, we can improve analytics for millions of our sellers,” they said.

Shopify has made several acquisitions in the past.

In 2021, the team at AR startup Primer engaged a team to work on artificial intelligence and spatial computing at Shopify. In 2018, it quietly acquired Swedish social shopping app Tictail, whose founders later played a large role in Shopify’s creation of the Shop app.

In recent years, the company has also shown greater interest in e-commerce analytics. In February 2023, it made a strategic investment in Triple Whale, which centralizes metrics from various platforms in one dashboard.

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